Kennedy Capital Management Inc. Sells 26,816 Shares of Fabrinet (FN)

Kennedy Capital Management Inc. lessened its stake in shares of Fabrinet (NYSE:FN) by 15.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 145,306 shares of the technology company’s stock after selling 26,816 shares during the period. Kennedy Capital Management Inc.’s holdings in Fabrinet were worth $4,170,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in FN. SG Americas Securities LLC bought a new position in shares of Fabrinet in the third quarter worth about $161,000. Russell Investments Group Ltd. boosted its stake in shares of Fabrinet by 139.7% in the third quarter. Russell Investments Group Ltd. now owns 4,821 shares of the technology company’s stock worth $179,000 after acquiring an additional 2,810 shares during the period. Miles Capital Inc. bought a new position in shares of Fabrinet in the fourth quarter worth about $219,000. Unison Advisors LLC bought a new position in shares of Fabrinet in the fourth quarter worth about $220,000. Finally, Navellier & Associates Inc bought a new position in shares of Fabrinet in the fourth quarter worth about $229,000. 94.61% of the stock is owned by institutional investors and hedge funds.

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In other Fabrinet news, insider David T. Mitchell sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $30.04, for a total transaction of $1,201,600.00. Following the sale, the insider now directly owns 111,057 shares in the company, valued at $3,336,152.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David T. Mitchell sold 90,020 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $29.29, for a total value of $2,636,685.80. Following the sale, the insider now owns 111,057 shares in the company, valued at $3,252,859.53. The disclosure for this sale can be found here. Insiders sold 240,442 shares of company stock worth $7,130,099 over the last quarter. 3.30% of the stock is owned by company insiders.

Shares of Fabrinet (NYSE FN) opened at $33.84 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.84 and a quick ratio of 1.99. The company has a market capitalization of $1,261.60, a PE ratio of 14.40, a P/E/G ratio of 1.33 and a beta of 0.50. Fabrinet has a 52-week low of $24.02 and a 52-week high of $47.02.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, February 5th. The technology company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $337.10 million for the quarter, compared to the consensus estimate of $329.41 million. Fabrinet had a return on equity of 12.96% and a net margin of 6.24%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. analysts anticipate that Fabrinet will post 2.12 EPS for the current fiscal year.

Fabrinet announced that its Board of Directors has initiated a share repurchase plan on Monday, February 5th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

A number of research firms recently commented on FN. ValuEngine upgraded Fabrinet from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. Northland Securities set a $37.00 target price on Fabrinet and gave the stock a “buy” rating in a research report on Monday, January 29th. Needham & Company LLC reiterated a “strong-buy” rating and issued a $40.00 target price (down from $45.00) on shares of Fabrinet in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus decreased their target price on Fabrinet from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $41.25.

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